"I am one of those who do not believe the national debt is a national blessing...it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."
—Andrew Jackson, letter, April 26, 1824

SPX Daily - Resistance, busted blue wedge support and that nasty daily candle yesterday. Does not look good for bully.

SPX Weekly - I'm gonna try and stick with my hopes of one last dump and pump to set a final weekly neg div and send this thing to its grave in an appropriate technical manner. This is not necessary, but what I'd prefer to see.

SPX 30m - Maybe that RS and the HnS is gonna play out. Sadly it takes an event to make it happen and natural forces can't do it on their own. She's been trying to roll over for weeks now, maybe this will be one of the last straws?

“And you have to wonder whether these women, one of whom worked for the
Carly Fiorina campaign, and then shortly thereafter Ted Cruz pays Carly
half a million dollars. Ted despises Carly, and Carly despises Ted. What
is the $500,000 for? Can you say hush money?”

Wednesday, April 27, 2016

Apple - Schmapple - It's all about Grandma - Futures Ignore Apple Plunge; Oil Rises Above $45 As Yellen Looms. On to the lie - Nothing maters till Granny gives marching orders. SPX 5m - Just about the same situation three weeks ago where everything looked south and they lit an afterburner. Not saying that's gonna happen, but with gravity going its thing to AAPL she may choose to light another fuse.

Thursday, April 21, 2016

Draghi and more insanity. It is what it is till it isn't. Enjoy it while it lasts, cause when it's over - it's over. On to the lie -

SPX 60m - If we can somehow get them to overthrow the upper blue wedge resistance - that would be a spectacular short point. Until then it can literally do anything. Tired, OB, ridiculous, manipulated - however you want to describe it - it is what it is.

SPX 60m - I like the fact that right now the 38% retacement of this run is at 1990 support. Makes a nice round spot for a reversal. All sorts of critical support out to the right of price on this chart. Sub 64 and then 48 and it's game on a gain. Bears got a lot of work to do to get to that point though. Right now Grandma is working her magic.

"Every move you make is being monitored, mined for data,
crunched, and tabulated in order to form a picture of who you are, what
makes you tick, and how best to control you when and if it becomes
necessary to bring you in line."

And for my buddy Geo who threw out the 'tin foil hat conspiracy' idea last night - just go to this site and spend some time there - http://www.ae911truth.org/ You will come back a changed man. And -Why The Media Lies So MuchMore to come below. Have a good day. GL and GB!

After all the Fed has done over the past few weeks to try and achieve lift off - are they about to lose the battle?

SPX 30m - Rollover continues (Black, Red, Blue formations) and fear/anger builds (finally). Small HnS on the 5m chart from Friday. Island gap and the 64 (major s/r) area will be the first key point.

SPX 60m - 64 area will be critical to holding blue wedge support - so if 64 goes it could be a major look out moment.

Freedom watch -

World's most powerful nation? LMAO we've devolved into a pathetic excuse of a former global powerhouse -Saudi King And Princes Blackmail The U.S. Government: What Happens Next. Like I said yesterday, the whole treasury deal is a smoke screen - we can't go down the path of blaming the Saudis for one simple reason - the US is more guilty than they are - they paid for it and we enabled it.

Thursday, April 14, 2016

"We do know, however, that it is a very busy week for unexpected,
emergency meeting for the Fed, because according to the Fed's board
meeting website, today at 3pm the Fed held yet another previously unscheduled "meeting
under expedited procedures", only instead of discussing rates this
time, the Fed talked about institutions, infrastructure and financial markets."

I mean what more can you say than this -

"We also will never know if there is any coincidence between these two
meeting and the fact that just after they took place, the S&P went
from red on the year to fresh 2016 highs in under two days."

"As such asset prices (i.e. equity markets) and asset price risk (i.e. equity volatility) are far bigger concerns. So all you need for a balance sheet crisis is declining equity markets, a phenomenon the Fed appears desperate to avoid."

and

"Well that, and another reason: as of this moment one can measure the
daily credibility of central banks by whether stocks closed higher or
lower; too low and everyone starts talking about how CBs no longer have
credibility and how they would rather Yellen et al would stop
micromanaging everything... and then everyone quiets down when stocks
surge back to all time highs. Alas, this means that the markets have not
only stopped being a discounting mechanism (or rather they only
discount what central banks will do in the immediate future), but have
also stopped reflecting the underlying economy a long time ago,
something will remains lost on all of the "smartest people in the room.""

On to the lie -

SPX 60m - Resistance and what the Fed is doing their best to drive price through. Oh, and the massive hole below if they fail. That lower black support diagonal keeps getting farther and farther away.

Tuesday, April 12, 2016

Don't feel like fussing this morning. Alas, I'll address a couple of things. First this wonderful postSilver Soars, Stocks Slump As Equity "Fear" Hits All-Time Record High that's chocked full of lovely pictures that paint a terrible picture for Mr. Market's future. The last one was my favorite. To carry on with the "STB's just not feeling the fear" theme that they've been preaching the last few weeks -

"And then remember when Alcoa beat last quarter on non-GAAP EPS of $0.07? Well, that was just quietly revised to $0.04."

On to the lie -

SPX 5m - It took quite some time but the roll over finally found some form. I was happy when upper red resistance held yd. If this is for real, then red support should fail at some point and a steeper falling wedge should form (that will eventually fail again). If that's a descending triangle with support at 43, then it targets 2010. They are trying to push it up this morning, so be cautious.

Were gonna start the week with the "expedited procedures" Fed meeting with Obummer following that up with a surprise sit down with Grandma. All this with the start of earnings upon us and basically total and utter turmoil (being ignored) across the globe. I've been asking, why are they protecting this top? What's up? I guess we're gonna find out soon enough. I'll reiterate - things are really F'd up and right now fear is being managed really well IMHO. I have a feeling that's not gonna last much longer. On to the lie -

SPX 30m - It should have rolled over a few weeks ago but Grandma stopped that. Now we're into another rollover situation where all NT and rising support is gone backed by negative divergences all that way up to the daily charts. We got the dip n rip I wanted to set those daily neg divs. Now will they allow them to play out? Possible HnS setting up below. The roll over should be in place and free fall should commence, but with this crowd - you never bet ahead of the Fed - Follow The Fed!

SPX 30m - Still lost in the woods technically, but may be closer to the edge than we think. The charts may be predicting (based on several major patter breakdowns and OB conditions) another rate hike is coming from the Fed.

Thursday, April 7, 2016

Funny, I'm not really sensing this as in the past -"There Is A Lot Of Fear In The Market" - Stocks, Futures Slide After Yen Soars. The reason for real fear is undeniable, but the Fed backstop has this tempered - at least for now. Their move back to a confused state, and their push for higher highs up here (stick saving tops and not a bottom) as noted has me baffled (really concerned more like it).

On to the lie -

SPX Daily - Shoulda, woulda, coulda, still might? Who knows. Short term charts are a mess and Fed speak still has everyone afraid to get short after two great short setups were disposed of in order by the powers that be.

SPX 30m - Yesterday I said, "Watch the 56 area and those MA's on this chart for initial support." Well, here we are, and they're at least producing a pop at the open. Technically we're at another point where breakdown SHOULD be happening. Failure to some degree really should happen here (as it should have happened back on March 29th but Grandma screwed that up). We're still in the midst of a bunch of Fed speak and they are leaning Doveish. Thus it appears at this moment reality may take a back seat again. It shouldn't, but it's their market (see link above).

Tuesday, April 5, 2016

Congrats to LC1 and LC2 for winning the STB NCAA challenge. Yes, he took both top spots. Well done. Strange stat - not one person picked the champion for the first time ever in my group. Thanks to all that played. Fed speak all week, so don't be surprised at some very On to the lie -

Well, late yesterday I said, "SPX gonna close at a dangerous spot for both sides - right below 64.
Bully needs to save support (bad 4 bear) and if they gap down at the
open or fall below 59 a waterfall is quite possible. So, do they stick
save it or does it crack and weakness is exposed?" Looks like weakness to me - at the moment at least - this can change in an instant with some well timed Fed speak.

Yen, easing, oil - pick ur poison. Nothing rational drives market prices anymore. Such a crap shoot with fundamentals irrelevant (all data is BS) and technicals only coming into play on days when there is no news. SPX 30m - The rally has broken down. It should be reversing (shoulda started a week ago). Will it, or should I say will they allow it? Watch the 56 area and those MA's on this chart for initial support.

SPX 60m - again - I don't have a better chart right now and have not had for over a month. Only question is - do technicals matter or not? Overbought? Yes, check out the indicators on a daily chart. 461 of the SPX are above their 50dma's? I'm still on the side of a pullback and pop before we get a real big breakdown.

Half full or half empty -Worst Case Scenario: 73% Down From Here. That's far, far, far away from a worse case scenario. 75 to 80% price reduction scenario works for me. It's the form of the market or what's left after the carnage to salvage and how that recovery forms is what scares the heck out of me. If you think it's owned and contrived now, just you wait. Who "owns" what, or what you may no longer own - now that's where we get into a real life worst case scenario.

Right now may be one of those 'exit points' you may want to take. The elevator only goes back up so many times before the cables fail and down she goes. With each trip back up they stop further and further down from the penthouse. You only get so many opportunities to get off on one of the upper floors. This may be one of those.

SPX 30m - What was a really good setup for a fall three weeks ago has only gotten better.

SPX Weekly - This has the potential to be the last major top of all the rebounds. With the Fed turning uber doveish at this time, that may be some sort of clue as to the dangers of this resistance point to their fraudulent market.

About Shanky

I am a former financial professional that blogs for fun. I enjoy sharing my thoughts with others on my blogs. I hold nothing back and apologize for the foul language in advance, but dire situations require accurate descriptions. Please feel free to contact me with your thoughts or tips at the email address provided. Enjoy!

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